Car insurance premiums up an average £88
Before you check your premiums before you renew your car insurance. New research shows drivers in our region pay an average of £680 currently!
The research by Confused.com found that car insurance premiums in the South of England have increased by an average of £88 (15%) in 12 months.
Amanda Stretton, motoring editor at Confused.com, says: “With car insurance costs in the South of England rising by 15% over the last year it’s no wonder drivers are dreading their next renewal date.
“The dramatic Ogden rate cut from 2.5% to -0.75% in February 2017 sparked a surge of car insurance price hikes across the UK, in an already inflating market, as insurers braced themselves to pay out more for personal injury claims. A recent (September 2017) government announcement to change the way rates are set could partly reverse the cut by to up to 1%, meaning insurers have seemingly been able to calm their pricing slightly this quarter. Even so, we expect this will be short lived given that prices have already started to rise again in September.
“Worryingly, there is every possibility that car insurance prices will be the most expensive on record during the first half of next year. Luckily, insurers are required to show drivers what they paid for their car insurance last year at point of renewal. Drivers wanting to make savings should take note of their renewal price and take a few minutes to get a comparable quote online at Confused.com, where they could save up to £289.”
For more detailed information, see Confused.com’s car insurance price index hub
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